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Raytheon Co (RTN) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Raytheon Co

CIK: 1047122 Ticker: RTN
Exhibit 99.1

 
 
Raytheon Company
 
 
Global Headquarters
 
 
Waltham, Mass.
 
 
 
 
 
Investor Relations Contact
 
 
Todd Ernst
 
 
 
781.522.5141
 
 
 
 
 
 
 
Media Contact
 
 
 
Pam Erickson
 
 
 
781.522.5822
For Immediate Release

Raytheon Reports Solid Fourth Quarter and Full-Year 2015 Results

Strong bookings of $7.9 billion in the quarter and $25.2 billion for the year; book-to-bill ratio of 1.09 for the year
Fourth quarter net sales of $6.3 billion, up 3 percent; full-year net sales of $23.2 billion, up 2 percent
Fourth quarter EPS from continuing operations of $1.85; full-year EPS from continuing operations of $6.75
Solid operating cash flow from continuing operations of $813 million in the quarter
and $2.3 billion for the year after a $200 million pretax discretionary pension plan
contribution in the fourth quarter
__________________________________________________________________________________________________

WALTHAM, Mass., (January 28, 2016) - Raytheon Company (NYSE: RTN) announced net sales for the
fourth quarter 2015 of $6.3 billion, up 3 percent compared to $6.1 billion in the fourth quarter 2014. Fourth quarter 2015 EPS from continuing operations was $1.85 compared to $1.86 in the fourth quarter 2014. Fourth quarter 2015 EPS from continuing operations included, as expected, an $0.08 unfavorable impact associated with acquisition accounting adjustments related to ForcepointTM, formerly known as Raytheon|Websense.
Net sales in 2015 were $23.2 billion, up 2 percent compared to $22.8 billion in 2014. Full-year 2015 EPS from continuing operations was $6.75 compared to $6.97 for the full-year 2014. Full-year 2015 EPS from continuing operations included, as expected, a $0.25 unfavorable impact associated with Forcepoint acquisition accounting adjustments and acquisition-related costs discussed in further detail below.
“Raytheon delivered solid operating performance and returned to growth in 2015. Strong bookings during the year from our global customers position us well for continued growth in 2016,” said Thomas A. Kennedy, Raytheon Chairman and CEO. “As we look ahead, we remain focused on creating value for our shareholders and customers by delivering strong program execution, while also investing in our future and pursuing a balanced capital deployment strategy.”
The Company generated strong operating cash flow for both the fourth quarter and full-year. Operating cash flow from continuing operations for the fourth quarter 2015 was $813 million compared to $829 million for the fourth quarter 2014. Fourth quarter 2015 operating cash flow from continuing operations was after a $200 million pretax discretionary cash contribution to the Company’s pension plans compared to $600 million in the fourth quarter


The following information was filed by Raytheon Co (RTN) on Thursday, January 28, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Comprehensive Income
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Operations
Acquisitions And Goodwill
Acquisitions And Goodwill (intangible Assets Acquired) (details)
Acquisitions And Goodwill (narrative) (details)
Acquisitions And Goodwill (purchase Price Allocation) (details)
Acquisitions And Goodwill (rollforward Of Goodwill By Segments) (details)
Acquisitions And Goodwill (tables)
Business Segment Reporting
Business Segment Reporting (capital Expenditures) (details)
Business Segment Reporting (components Of Fas/cas Adjustment) (details)
Business Segment Reporting (components Of Total Assets) (details)
Business Segment Reporting (depreciation And Amortization) (details)
Business Segment Reporting (sales To Major Customers) (details)
Business Segment Reporting (schedule Of Property Plant And Equipment By Geographic Area) (details)
Business Segment Reporting (schedule Of Total Net Sales By Geographic Areas) (details)
Business Segment Reporting (segment Operating Performance) (details)
Business Segment Reporting (tables)
Commitments And Contingencies
Commitments And Contingencies (activity Related To Product Warranty Accruals) (details)
Commitments And Contingencies (estimates Of Total Remediation Costs, Weighted Average Risk-free Rate, Total Remediation Costs - Discounted And Recoverable Portion) (details)
Commitments And Contingencies (narrative) (details)
Commitments And Contingencies (schedule Of Annual Rentals On A Lease Basis) (details)
Commitments And Contingencies (schedule Of Environmental Remediation Costs) (details)
Commitments And Contingencies (stated Values Outstanding) (details)
Commitments And Contingencies (tables)
Contracts In Process, Net
Contracts In Process, Net (contracts In Process) (details)
Contracts In Process, Net (narrative) (details)
Contracts In Process, Net (tables)
Discontinued Operations
Discontinued Operations (narrative) (details)
Eanings Per Share (eps) (narrative) (details)
Earnings Per Share (eps)
Earnings Per Share (eps) (eps From Continuing Operations) (details)
Earnings Per Share (eps) (income From Participating Securities) (details)
Earnings Per Share (eps) (tables)
Earnings Per Share (eps) (weighted-average Shares Outstanding For Basic And Diluted Eps) (details)
Eborders Settlement
Eborders Settlement (narative) (details)
Forcepoint Joint Venture
Forcepoint Joint Venture (narrative) (details)
Forcepoint Joint Venture Forcepoint Joint Venture (tables)
Forcepoint Joint Venture Noncontrolling Interest Rollforward (details)
Income Taxes
Income Taxes (narrative) (details)
Income Taxes (rollforward Of Unrecognized Tax Benefits) (details)
Income Taxes (schedule Of Deferred Income Tax) (details)
Income Taxes (schedule Of Domestic And Foreign Income From Continuing Operations Before Taxes) (details)
Income Taxes (schedule Of Expenses For Income Taxes That Differ From The Us Statutory Rate Reconciliation) (details)
Income Taxes (schedule Of Income Taxes Paid, Net) (details)
Income Taxes (schedule Of Provision For Federal And Foreign Income Taxes) (details)
Income Taxes (tables)
Long-term Debt
Long-term Debt (adjustments And Payments To The Principal Amounts Of Long-term Debt) (details)
Long-term Debt (fair Value Of Long-term Debt) (details)
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Notes Payable And Long-term Debt) (details)
Long-term Debt (tables)
Other Assets, Net
Other Assets, Net (narrative) (details)
Other Assets, Net (schedule Of Investments Included In Other Assets Net) (details)
Other Assets, Net (schedule Of Other Assets Net) (details)
Other Assets, Net (tables)
Pension And Other Employee Benefits
Pension And Other Employee Benefits (adjustment To Accumulated Other Comprehensive Loss) (details)
Pension And Other Employee Benefits (fair Value Of Plan Assets) (details)
Pension And Other Employee Benefits (long Term Returns Used In Roa Assumptions) (details)
Pension And Other Employee Benefits (marketable Securities Held In Trust) (details)
Pension And Other Employee Benefits (narrative) (details)
Pension And Other Employee Benefits (pbo & Abo Schedule) (details)
Pension And Other Employee Benefits (pension Benefits Expected To Be Paid From Plans Or Companies Assets) (details)
Pension And Other Employee Benefits (pension Contributions) (details)
Pension And Other Employee Benefits (schedule Of Change In Plan Assets) (details)
Pension And Other Employee Benefits (schedule Of Change In Projected Benefit Obligation) (details)
Pension And Other Employee Benefits (schedule Of Components Of Net Periodic Benefit Expense (income) Pension) (details)
Pension And Other Employee Benefits (schedule Of Components Of Net Periodic Benefit Expense (income) Prb Benefits) (details)
Pension And Other Employee Benefits (schedule Of Fair Value Measurements Of The Company's Pension Plan Assets By Asset Category And By Level) (details)
Pension And Other Employee Benefits (schedule Of Funded Status Amounts Recognized On The Balance Sheet) (details)
Pension And Other Employee Benefits (schedule Of Investment Allocation Ranges) (details)
Pension And Other Employee Benefits (schedule Of Reconciliation Of Amounts On The Balance Sheets) (details)
Pension And Other Employee Benefits (schedule Of Weighted-average Net Periodic Benefit Cost Assumptions) (details)
Pension And Other Employee Benefits (schedule Of Weighted-average Year-end Benefit Obligation Assumptions) (details)
Pension And Other Employee Benefits (source Of Change In Accumulated Other Comprehensive Loss) (details)
Pension And Other Employee Benefits (tables)
Pension And Other Employee Benefits Pension And Other Employee Benefits (veba Trusts) (details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (narrative) (details)
Property, Plant And Equipment, Net (property, Plant And Equipment, Net) (details)
Property, Plant And Equipment, Net (tables)
Quarterly Operating Results (unaudited)
Quarterly Operating Results (unaudited) (schedule Of Quarterly Operating Results) (details)
Quarterly Operating Results (unaudited) (tables)
Stock-based Compensation Plans
Stock-based Compensation Plans (assumptions Used In Monte Carlo Model) (details)
Stock-based Compensation Plans (narrative) (details)
Stock-based Compensation Plans (schedule Of Stock-based Compensation Arrangements By Share-based Payment Award - Ltpp) (details)
Stock-based Compensation Plans (schedule Of Stock-based Compensation Arrangements By Share-based Payment Award - Restricted Stock And Rsus) (details)
Stock-based Compensation Plans (schedule Of Stock-based Compensation Arrangements By Share-based Payment Award) (details)
Stock-based Compensation Plans (tables)
Stock-based Compensation Plans Stock-based Compensation Plans (assumptions Used In Black-scholes Model) (details)
Stockholders' Equity
Stockholders' Equity (changes In Shares Of Common Stock Outstanding) (details)
Stockholders' Equity (narrative) (details)
Stockholders' Equity (repurchases Of Common Stock Under Share Repurchase Programs) (details)
Stockholders' Equity (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (comprehensive Income) (details)
Summary Of Significant Accounting Policies (inventory) (details)
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (net Eac Adjustments) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (property, Plant And Equipment, Net) (details)
Summary Of Significant Accounting Policies (tables)
Ticker: RTN
CIK: 1047122
Form Type: 10-K Annual Report
Accession Number: 0001047122-16-000210
Submitted to the SEC: Wed Feb 10 2016 8:47:56 AM EST
Accepted by the SEC: Wed Feb 10 2016
Period: Thursday, December 31, 2015
Industry: Search Detection Navagation Guidance Aeronautical Sys

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